Finally sustaining beyond 22080-22213 will confirm next decisive moves beginning amid firstly down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(18-04-2024)
Nifty-Intra Day Chart (16-Apr-2024):-
Technical Patterns formation in today intraday charts
1- More than 2 hours selling between 22186-22213
2- Down moves with upward corrections
3- Consolidation between 22080-22129
4- Sharp up moves in last half hour
5- Whole day actual trading between 22080-22213
Conclusions from intra day
chart analysis
Although firstly 88 points up moves after gap down weaker opening but higher levels more than 2 hours selling was seen between 22186-22213 therefore down moves developed in Mid-Session and Nifty traded 197 points down also because these down moves with upward corrections which mean follow up selling in Mid Session.
As lower levels some consolidation developed therefore sharp up moves were seen in last half hour and last Tuesday whole day trading will be understood with Mixed Patterns formation. It means that one sided intraday trading patterns were not seen last Tuesday therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about last Tuesday trading range. As higher levels good selling therefore firstly down moves are expected but finally sustaining beyond last Tuesday trading range(22080-22213) will confirm next decisive moves beginning therefore it should be watched in the coming session for one sided next decisive moves beginning confirmations.